Business News

Canada to partner with Nigeria on gas infrastructure development – Gabriel Aduda

The Permanent Secretary of Nigeria’s Ministry of Petroleum Resources, Mr. Gabriel Aduda, has announced that Canada has committed to partnering with Nigeria in the establishment of a strong gas infrastructure network. 

Aduda stated that Premier Daniella Smith of Alberta, Canada, conveyed assurance during a meeting on Monday with the Federal Government delegation at the 24th World Petroleum Congress (WPC) in Calgary, Canada. 

The five-day conference has as its theme: “Energy Transition: The Path to Net Zero”. 

  • “One of the things that we discussed earlier today (Monday) with the Premier of Alberta was fruitful around collaboration to develop our gas assets in Nigeria, especially trunks and distribution pipelines which is something that we need now. 
  • “It is one thing for you to produce the gas and it’s a completely different thing for you to transport the gas to where it is needed and required, and that is something that l think the government of President Bola Tinubu is committed to doing, which is how do we get this gas out where it is needed. 
  • “That is the same message we have brought, and between now and Friday, we will be meeting with few investors especially those that build the pipelines across Alberta, Canada and America. 
  • “So, we have had discussions and meetings with them to see how they can come back home and help us build our lines,’’ he said. 

Net-Zero Target By 2060 

Speaking further, Aduda stressed that Nigeria’s ability to achieve its energy transition objectives relies heavily on a robust footing comprised of a three-pronged strategy. 

According to him, these include financing, technology transfer and infrastructure to meet its net-zero target by 2060. 

  • “We do not need to pressure ourselves into attaining net zero but rather come up with a framework that works for Nigeria which will allow our resources that we have now to take us to where we want to be,” he said. 
  • He said that Nigeria has identified gas as its transition fuel and put the decade of gas ahead as a framework to be able to develop and ensure the domestic injection of gas in every home, factory and industry. 
  • “The policy is also to ensure distribution across out of Nigeria to feed others because this is a resource we have in abundance, and for us to be able to do that, there is a need for huge financial outlay. 
  • ‘‘One of the messages we have come with to WPC which we hope we will achieve at the end of the day is to be able to gather investors that will see the business opportunities in Nigeria. 
  • “Investors that will also see that Nigeria is actually ready to do business because the Petroleum Industry Act (PIA) has opened the doors that we need in addition to the sector being liberalised so that more players can now come across the world,’’ he added. 

More Insights 

On divestment of assets, Aduda said that it was not a bad thing as it is an opportunity from one end to the other. 

According to him, the divested assets are a goldmine because it is not as if the assets are left idle but rather, investors are rushing them for takes. 

  • ‘‘The truth of the matter is that, once the business place is right, there will always be funding for whatever project you bring in the area of oil and gas. 
  • “So, it’s nothing to be worried about, and at the end of the day, all you can see is that this has been taken off by those who think and who can run the process actually. 
  • “So, all we need are capable operators. The moment you are capable, there is no asset that is a waste,” he said. 

The 24th WPC has recorded no fewer than 15,000 visitors from over 100 countries, 5,000 delegates and over 200 national and international exhibitors. 

Download TheTimes App for breaking news and market intelligence.
    app store banner

Back to top button